720 Executive Park Dr
Greenwood, IN 46143

The DiSalvo Group of Marcus & Millichap is pleased to exclusively present to market the Vantage Centre of Greenwood, Indiana. Greenwood is an integral part of the Indianapolis MSA, as one of the fastest growing submarkets and is centered along US-31 Southside of Indianapolis. The Subject Properties are strategically positioned within the Greenwood retail corridor just south of the Greenwood Park Mall and benefits from visibility along US-31 to nearly 38,000 vehicles per day. The Vantage Centre is a 27,714 square-foot, three-story, multi-tenant office building located on a 1.71 Acre Parcel that could be subdivided to support new development upside for an Investor, just off of US-31 South and Smith Valley Road, The Subject Property has benefitted from over $1.2M in Capital and Tenant improvements since January 2018, which included completely updated Elevators, HVAC Units, Roof Repairs, LED Lighting, completely New Interior and Exterior Signage, Security Systems, and completely updated common areas. Additionally, all tenant suites have undergone tenant improvements including new paint throughout and new flooring in 70% of the units. As a direct result of all improvements, the Subject Property has benefitted from property with new lease-up or back-fills in 49% of the Net Leasable Area. The Vantage Centre is now stabilized, and operating at 100% occupancy across 23 Tenants, and offers diversified stability across an attractively staggered rent roll, at below market rents, and without a single user accounting for more than 9.0% of the Net Leasable Area. Historically, the Indianapolis Southside has grown in attraction as an office market with competitively lower market rents in comparison to the Northern Indianapolis Submarkets and Central Business District. A recent Co-Star Survey indicates the 81 Class B-C, Multi-Tenant, Investor Owned, Professional Office Properties between 10,000 and 50,000 square-feet within the 5 Mile Radius are reporting an average market vacancy rate of 5.1%, with an average market rent of $18.71 Gross per square-foot. In addition to the potential future development or expansion on the sizable parcel, this provide investors substantial upside potential completely renovated Vantage Centre, which is currently forecasting Average Market Rents across the Stabilized Property of just $12.97 Modified Gross per square-foot. The Vantage Centre is priced to sell asking $2.493M, reflecting an 8.23% CAP Rate upon the Actual Financials after applying a 5.0% Vacancy Rate to the 100% Stabilized Subject Property that also provides Investors with excellent day one return in this low-interest rate environment and security in a completely renovated and upgraded Asset for years to come. Furthermore, The Vantage Centre is a unique investment opportunity providing Investors with the rare combination of stability across a 100% occupied asset with a diversified rent roll and extremely high value-add opportunities through continuing to raise rental rates to market, continuing to convert the lease structures to further minimize Landlord operating costs, and expansion/development potential in the excess land.